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The Market Today in Southern California

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Happy Thanksgiving to you and your family! Now is the time to take the time to appreciate what you have.

We have some market information that applies to the month of November that we want to share with you today.

The fourth quarter is usually a transitional time for us. We normally experience changes in inventory and price. This presents a unique opportunity to both buyers and sellers.

Buyers experience lower prices during this time, so look out for deals. It’s a great time to look for your dream home.

Sellers benefit from fewer listings on the market. Less inventory means less competition. 

Our market experiences 30% fewer listings during this time of year. This gives you a better opportunity to sell your home quickly.
I study the local market and its trends every day. If you have any questions about your real estate needs, reach out to us today. We’d be happy to sit down and talk about it with you. 

Have a great holiday season!

How Can Zillow Hurt Your Home's Price?

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Selling an Orange or LA County Home?
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Zillow is a giant in the real estate industry. They aggregate tons and tons of data, and a lot of it is actually quite useful to the average consumer, but you need to take some of it with a grain of salt.

One thing in particular that you need to watch out for is the Zestimate, which is Zillow's valuation of your home. How accurate is that value that Zillow places on your home?

In North Orange County and North LA County, the median error is 9.8%. That's a huge error on a $500,000 home. It has also been stated that nearly every home value on the website is off by 5% or more. This is a huge margin of error.

These estimates work well with communities that have similar homes, but with mixed communities like we have in LA, it's hard for Zillow's algorithms to place accurate values on homes.

Just this month we sold a home that Zillow valued at $620,000, but the true and accurate value was much higher, and we managed to sell it for $679,000. Can you imagine losing $60,000 in equity?

If you truly want to know the value of your Orange County home, please don't hesitate to contact me. I would be very happy to assist you!

What Can You Expect from Interest Rates in 2015?

Buying an Orange or LA County Home? Search all Homes for Sale

Selling an Orange or LA County Home? Check out our FREE Home Value Report

Welcome back, everyone! Today's topic is interest rates, which have become a very hot topic in our area. People want to know if and when they are rising, and what they can expect by the end of 2015. A lot of people in real estate are expecting rates to rise, so let's take a look at the numbers and determine if that's the case.

We finished 2014 with an average interest rate of 3.75% for 30-year fixed mortgages, which is very close to the historic low. Right now, rates are in the low 4%'s, but both the Mortgage Broker's Association and the National Association of Realtors are projecting rates to rise above 5% by the end of the year.

If interest rates do jump to over 5%, it really will be a modest hike compared to the historical averages for interest rates. Back in the early 2000's, rates were in the 6-7% range. In the 90's, rates were in the 8-9% range. And all the way back in the 1980's? Rates were in the 13-17% range!

By all accounts, 5% rates are still historically low. You may be pleasantly surprised about what you can afford right now compared to what you could have afforded in the past.

If you can afford it, it makes sense to buy a home right now. Rates are still low, but you can't plan your purchase around interest rates. You've got to do it when it's right for your family. We will help you find your dream home just like we've done for home buyers over the last 15 years.

If you know somebody who is looking to buy, sell, or invest in the real estate world, give me a call or send me an email. Also, please share this video on Facebook! We look forward to speaking with you soon!

What You Need to Know About Selling a Home Today

Buying an Orange or LA County Home? Search all Homes for Sale

Selling an Orange or LA County Home? Check out our FREE Home Value Report

Hey everybody, welcome back to my blog. Today's topic is a fun one. I'm going to be answering some of the most common questions I've been getting lately from my clients. You've probably asked a lot of these questions yourself, so today I am going to provide some answers.

"Can you take me through the home-selling process and tell me what to expect?"

Over the years, I've recognized a number of steps it takes to sell a home, and for the purposes of this video, I'll go over the key steps with you today. I can take you from anywhere you are in the process all the way through to closing.

Step 1 is the initial conversation you have with a Realtor, where you discuss your goals in regards to your home sale. Step 2 is actually seeing the home, which includes doing a walk-through, discussing pricing, and going over any changes you can make to help increase your value.

When we're ready to proceed, we will schedule photography and from there, buyer showings will start within a few days.

"When Can I expect an offer?"

The average market time in our area is 90 days, but my team's average is 39 days. We are doing the job in less than half the time.

"How much can I expect of my listed price?"

The average Realtor is only getting 92% of their list price. So if you list for $500,000, you can only expect $460,000 back. However, our team is averaging a list-to-sale ratio of 99.5%, and are getting home sellers nearly all of their asking price. Our clients have been very happy about that.

"How long does it take to get to closing?"

Usually about 30-35 days on average, although if you need to move faster or slower, we can help you do that.

If you have any questions for us, feel free to give us a call or send us an email. If you know somebody who is looking to buy or sell, share this video on their Facebook timeline! We look forward to hearing from you soon!

How Are Both Buyers And Sellers Succeeding in Our Market?

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Orange County Real Estate Agent
Today we are excited to be giving you a local market update and letting you know what has been happening in the Orange County real estate market. We've got some really good news to report.

First of all, interest rates are still near historic lows and the loan programs out there for buyers keep getting better and better, including new 3% down options from Freddie Mac and Fannie Mae. If you have been thinking about buying or refinancing, now is an opportune time to do so.

Secondly, the number of homes that are under contract is up by 20% from January to February of this year vs the same period last year.

So what does this mean for real estate? It means more buyers are looking right now, more offers are being written, and more homes are going under contract at a faster rate than they have in the last 7 years.

If you've been thinking about moving, either upgrading or downsizing, this could be the best time to do so for a long time. There are more homes to choose from on the market than there were at this time last year, and this is one of the best markets we have had for home sellers in a long time.

If you have any questions regarding real estate that we can answer for you, feel free to give us a call or send us an email. We would love to help you out!